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While spot Bitcoin and Ethereum ETFs have received approval in the US, the focus has now turned to Solana and other altcoin ETFs.
While there are many different opinions at this point, some analysts think that there will be no ETFs other than BTC and ETH, while others think that ETFs for altcoins such as SOL, XRP, Cardano (ADA) will come, but it is only a matter of time.
In this regard, BlackRock is skeptical of any ETF other than Bitcoin and Ethereum ETFs, while VanEck takes a completely opposite stance.
Because BlackRock stated that they do not plan to launch the Solana ETF in the near future.
Speaking in a recent interview with Scott Melker, host of The Wolf of All Streets Podcast, VanEck Head of Digital Assets Matthew Sigel stated that he is optimistic about Solana ETFs and that the SOL ETF may arrive sooner than expected.
Sigel also argued that a multi-ETF basket strategy would be more accurate for investors and said he was optimistic that more crypto ETFs would be approved.
“We disagree with the idea that Bitcoin and Ethereum will be the only ETF.
The market in Europe already has a variety of crypto ETPs, including single and diverse token basket options.
As VanEck, we aim to pioneer this diversity and innovation in the USA. At this point, you may be surprised that Solana ETFs are coming sooner than you think.”
VanEck, which was the first company to file for a spot Solana ETF in the US in late June, argued that regulators had no reason to deny public trading of SOL, similar to BTC and ETH as approved commodities.
*This is not investment advice.